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Accellent Inc (1342505) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2013

Accellent Inc

CIK: 1342505


Exhibit 99.1
Media Contact: Laura Tringali
978-570-6900
laura.tringali@accellent.com

Investor Contact: Richard Johnson
978-570-6900
richard.johnson@accellent.com

Accellent Inc. Announces Third Quarter 2013 Results

Wilmington, MA (November 7, 2013) - Accellent Inc. (the “Company” or “Accellent”) today announced results for its fiscal
third quarter ended September 30, 2013.


Third Quarter 2013 Financial Results

Third quarter 2013 net sales of $135.4 million increased 7.5% from $126.0 million in the third quarter of 2012. Net sales in our cardio & vascular business of $82.8 million increased 5.1% from $78.7 million for the same quarter last year. Net sales in our advanced surgical business of $52.7 million were 11.5% higher than $47.2 million for the third quarter of 2012.

Adjusted EBITDA in the third quarter of 2013 increased 8.6% to $30.6 million, or 22.6% of net sales, compared to Adjusted EBITDA of $28.2 million, or 22.3% of net sales, in the third quarter of 2012.

“Building on last quarter's momentum, we delivered strong results across our business with Q3 being another successful quarter,” stated Donald Spence, Chairman and CEO of Accellent. “Our third quarter results continue to demonstrate our ability to align our strategy with our customers' needs. We remain confident in our ability to deliver overall operational improvement and meaningful long term growth.”

Income from continuing operations was $20.9 million in the third quarter of 2013, compared with income from continuing operations of $16.2 million in the third quarter of 2012. Net income was $2.4 million in the third quarter of 2013 compared to a net loss of $6.5 million in the third quarter of 2012.

Nine Months Ended September 30, 2013 Financial Results

Net sales increased 2.8% to $387.0 million in the first nine months of 2013, compared with $376.5 million in the first nine months of 2012. Net sales in our cardio & vascular business of $239.4 million increased 2.0% from $234.6 million for the same period last year. Net sales in our advanced surgical business of $147.6 million were 4.0% higher than $141.9 million for the first nine months of 2012.

Adjusted EBITDA for the first nine months of 2013 increased 0.9% to $76.6 million, or 19.8% of net sales compared to Adjusted EBITDA of $75.9 million, or 20.2% of net sales in the first nine months of 2012.

Loss from continuing operations was $17.0 million in the first nine months of 2013, compared with income from continuing operations of $39.8 million in the first nine months of 2012. Net loss was $72.4 million in the first nine months of 2013 compared with a net loss of $19.1 million in the first nine months of 2012. The loss from continuing operations and net loss for the nine months ended September 30, 2013



The following information was filed by Accellent Inc on Thursday, November 7, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (parenthetical)
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Comprehensive Income (loss)
Unaudited Condensed Consolidated Statements Of Operations
Unaudited Condensed Consolidated Statements Of Operations (paranthetical)
Changes In Accumulated Other Comprehensive Loss
Changes In Accumulated Other Comprehensive Loss - Summary Of Changes (details)
Changes In Accumulated Other Comprehensive Loss (tables)
Changes In Stockholders' Equity
Changes In Stockholders' Equity - Summary Of Changes In Stockholders' Equity (detail)
Changes In Stockholders' Equity (tables)
Commitments And Contingencies
Divestitures
Divestitures - Summary Of Operating Results For Discontinued Operations Prior To Disposition (detail)
Divestitures (tables)
Environmental Matters
Environmental Matters - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements - Additional Information (detail)
Fair Value Measurements - Summary Of Financial Assets And Liabilities Recorded At Fair Value (detail)
Fair Value Measurements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Additional Information (detail)
Goodwill And Intangible Assets - Amortization Expense Related To Intangible Assets (detail)
Goodwill And Intangible Assets - Intangible Assets (detail)
Goodwill And Intangible Assets - Weighted-average Amortization Periods (detail)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes - Additional Information (detail)
Inventories
Inventories - Schedule Of Inventories (detail)
Inventories (tables)
Long-term Debt
Long-term Debt - Additional Information (detail)
Long-term Debt - Long-term Debt (parenthetical) (detail)
Long-term Debt - Schedule Of Long-term Debt (detail)
Long-term Debt (tables)
New Accounting Pronouncements
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Restructuring
Restructuring - Additional Information (detail)
Restructuring - Schedule Of Restructuring Activities (detail)
Restructuring (tables)
Segment Information
Segment Information - Additional Information (details)
Segment Information - Reconciliation Of Assets (details)
Segment Information - Reconciliation Of Capital Expenditures (details)
Segment Information - Schedule Of Segment Income (loss) From Operations (details)
Segment Information (tables)
Stock-based Compensation
Stock-based Compensation - Activity Relating To Roll-over Options During Period (detail)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Assumptions To Determine Fair Value Of Roll-over Options (detail)
Stock-based Compensation - Classification Of Stock-based Compensation (detail)
Stock-based Compensation - Stock-based Compensation By Type Of Award (detail)
Stock-based Compensation (tables)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies - Actual Percentages Of Net Sales From Customer Whose Sales Represented Ten Percentage Or More (detail)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Supplemental Guarantor Condensed Consolidating Financial Statements
Supplemental Guarantor Condensed Consolidating Financial Statements - Unaudited Condensed Consolidating Balance Sheets (detail)
Supplemental Guarantor Condensed Consolidating Financial Statements - Unaudited Condensed Consolidating Statements Of Cash Flows (detail)
Supplemental Guarantor Condensed Consolidating Financial Statements - Unaudited Condensed Consolidating Statements Of Comprehensive Income (loss) (detail)
Supplemental Guarantor Condensed Consolidating Financial Statements - Unaudited Condensed Consolidating Statements Of Operations (detail)
Supplemental Guarantor Condensed Consolidating Financial Statements (tables)
CIK: 1342505
Form Type: 10-Q Quarterly Report
Accession Number: 0001445305-13-002847
Submitted to the SEC: Thu Nov 07 2013 5:42:07 PM EST
Accepted by the SEC: Fri Nov 08 2013
Period: Monday, September 30, 2013
Industry: Surgical And Medical Instruments And Apparatus

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